Year-end report 2012, Rabbalshede Kraft AB (publ)

Significant events during the fourth quarter, October 1, 2012 – December 31, 2012

Net sales totaled KSEK 26,258 (28,446).

Operating profit before depreciation/amortization and impairment (EBITDA) amounted to KSEK 13,185 (21,681).

Operating profit (EBIT) amounted to KSEK -3,473 (10,030).

Production for the fourth quarter amounted to 48,667 MWh (51,505 MWh).

The average electricity price per presold MWh was SEK 354/MWh (339).

The average price for electricity certificates and GoO (Guarantee of Origin) was SEK 186/MWh (214).

The Vindpark Årjäng SV wind farm comprising 13 wind turbines in Årjäng’s municipality was granted an environmental permit.

The Hud and Töftedalsfjället wind farms were refinanced during the fourth quarter.

The first two wind turbines in the Dingle-Skogen Vind wind farm are in full production.

The fiscal year, January-December 2012

Production from the Group’s wind farms from January-December amounted to 159,785 (149,203) MWh.

Net sales totaled KSEK 85,269 (91,207).

The average electricity price per presold MWh from January to December 2012 was SEK 364/MWh (411). Revenues from the sale of electricity certificates averaged SEK 167/certificate (199) from January to December 2012

Operating profit before depreciation/amortization (EBITDA) amounted to KSEK 43,215 (71,617) and the Company posted an operating loss (EBIT) of KSEK 7,619 (profit: 33,318).

Depreciation/amortization totaled KSEK 50,834 (38,299). The Company posted a loss of KSEK 30,200 (profit: 3,895).

During the fourth quarter, The Hud and Töftedalsfjället wind farms were refinanced.

In June 2012, Rabbalshede Kraft completed a new share issue with preferential rights for existing shareholders, which raised SEK 83.6 M for the Company before issuance costs. The issuance proceeds were received by the Company on July 5, 2012. The shares that were subscribed for during the issuance have been registered by the Swedish Companies Registration Office.

In January 2012, Rabbalshede Kraft signed a bank-financing agreement with DNB, which secures the Company’s build-out plans for the Dingle-Skogen Vind wind farm in the Municipality of Munkedal, as well as the refinancing of the existing Brattön and Kil wind farms.

In January 2012, an agreement was signed with Enercon concerning the delivery of 14 2.3-MW turbines to the Dingle-Skogen Vind wind farm in the Municipality of Munkedal. In May 2012, Rabbalshede Kraft signed an agreement with the Gothenburg Diocese concerning the sale of two of these wind turbines and received an advance payment of SEK 30 M, which generated a positive impact on cash flow. The first two wind turbines were commissioned in December 2012. The entire wind farm is expected to be ready for production during the second half of 2013, at which time it will annually generate 86,500 MWh, of which Rabbalshede Kraft’s share of the farm will account for 74,000 MWh per year.

During the year, the County Administrative Board in the County of Värmland granted an environmental permit for the Årjäng NV wind farm, which comprises nine turbines, and the Årjäng SV wind farm, which comprises 13 turbines, in the Municipality of Årjäng. The permits have gained legal force. Both permits allow wind turbines with a total height of 180 meters to be established.

In August 2012, the Municipality of Härjedalen approved the Lillhärdal Åndberg Project comprising 101 wind turbines. The municipality’s approval was a prerequisite for receiving a permit from the County Administrative Board under the Swedish Environmental Code.

A permit application has been submitted to the County Administrative Board for the Ljungskile Hoven Project, encompassing four turbines, and the Stenshult Project, comprising six turbines, in the Municipality of Uddevalla.

The Annual General Meeting for the 2011 fiscal year was held on May 3, 2012 in Gothenburg.

CFO Fredrik Samuelsson assumed his position in July 2012 at which time he also became a member of the Company’s executive management. As of May 2012, Stefan Söderling, Financial and Business Controller, has been a member of the Company’s executive management.

Thomas Linnard, CEO      
Tel. 46 (0)525 - 197 11, 46 (0)706 100 120      

Fredrik Samuelsson, Financial Manager
Tel. 46 (0)525-197 13, 46 (0)703 01 20 49

Rabbalshede Kraft AB (publ)
Marknadsvägen 1
SE-457 55 Rabbalshede, Sweden

Telephone 46 (0)525-197 00
Corp. Reg. No. 556681-4652

This is Rabbalshede Kraft
Rabbalshede Kraft AB (publ) is a fast-growing player in wind power. Since being formed in 2005, Rabbalshede Kraft has been involved in the commissioning of 48 wind turbines, of which 26 wind turbines in four wind farms are proprietarily managed. An extensive project portfolio comprises the basis for growth. The Company has another 14 turbines under construction and about 350 wind turbines in the procurement, application or planning phase. Rabbalshede Kraft's overriding objective is to create value growth for the Company's shareholders - proprietary, in partnership with other companies and through divestment - by contributing to the commissioning of 250 turbines by 2015. To guarantee the long-term capital necessitated by the planned build-out, the Company is preparing an application for listing on the NASDAQ OMX Stockholm. Follow the Company's progress at


About Us

Rabbalshede Kraft AB (publ) plans and establishes proprietary land-based wind farms, in collaboration with other players or for divestment whereby the Company is able to offer operating services. Rabbalshede Kraft was formed in 2005 and currently manages 197 wind turbines of which 105 turbines are own or co-owned. The electricity produced from the Company’s wind farms in operation is sold in the open electricity market, Nord Pool. Follow the Company's progress at


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